Bitcoin Price Evolution Analysis 09.03.2021

by CSM TRADER                                                                                                                

 nº308

 BTC price U$ 54.080.  

BTC price at Braziliex R$ 311.004.

USD/BRL price BRL 5.87. 

Price EUR/BRL BRL 6.99

Price Gold 1g R$ 310.09.

Good morning to all readers.

The price of Bitcoin continues in an uptrend above the price area of $53,500.

The price of Bitcoin after a negative correction up to the price area of $49,270, started with strong positive developments up to the price area of $50,000, $51,000 and even breaking the big resistance of $52,000 and went up to the price areas of $53,000 and $54,000.

A test was made in the price area of $54,442.

Now at the time of writing the Bitcoin price is in the $54,116 price area. 

The Bitcoin price is still consolidating above the $53,600 price area.

It will take for the Bitcoin price to continue positive advances above the $53,500 price area, lest it continue negative corrections below $53,000 and $52,680.

The Bitcoin price will now face the major resistance of U$55,000, where once this resistance is overcome, the odds of continued positive advances upwards of the U$56,000 and U$57,000 price areas may be underway; where the possibilities of a new ATH may occur.

If the Bitcoin price fails to break through the U$55,000 and U$55,500 price area, negative corrections will appear, and extend below U$54,000 and U$53,000 where strong support in the U$52,500 price area could halt these negative corrections; if this support is broken the negative corrections could extend below U$51,800.

The Bitcoin price needs to hold above the EMA 50 (H1) to avoid further losses below $51,220.

A good daily close has been made above the $52,370 price area.

For today a good daily close would be above the $53,800 price area.

Ideally it would be above $54,780.

Buyers remain in total control of the situation and have managed to break the big barrier of $52,000.

Now at the time of writing, buyers continue to try to move Bitcoin's price above the major resistance in the $55,000 price area.

Buyers for a few sessions have been consolidating between the $53,800 and $54,380 price areas, where the possibilities for a positive advance above $55,000 could arise.

Once past the $55,000 price area buyers will attempt the developments above $56,000 and go for ATH in the $58,354 price area.

If buyers fail in the short term with positive moves above the $55,000 and $55,500 price areas, sellers could take control of the situation where they will create disadvantages which could extend downwards into the $54,500, $53,440 and $53,220 price areas, where it will be very important for buyers to stop sellers above the $52,000 price area in order not to lose all the moves made so far above $51,500.

In the short term buyers will have to keep Bitcoin's price above the EMAs 5 and 20 (H1), in order to avoid further losses below them.

Follow the buyers in the attempt to evolve the Bitcoin price above the price areas of $54,320 and $54,500.

Bitcoin TODAY at Braziliex: H1

The Bitcoin price on Braziliex continues in an uptrend above the R$ 296,000 price area.

The Bitcoin price at Braziliex followed with good developments above the R$ 294,000 price area and went above the R$ 300,000 price area where it even tested the R$ 316,899 price area.

Now at the time of writing the price of Bitcoin on Braziliex follows in the price area of R$313,015.

It will be important for the Bitcoin price on Braziliex to continue its consolidations above the R$ 298,000 and R$ 300,000 price area, for the possibilities of advancing upwards from the R$ 316,000 and R$ 318,600 price areas, where a good, consolidated advance above these price areas could follow to a possible breakout at the ATH in the R$ 320,000 price area and further advances upwards from the R$ 326,000 price area could still emerge.

If the Bitcoin price were to fail to continue above the $318,000 or even above the $316,000 price area negative corrections could emerge and extend below the $300,000 and $298,600 price areas.

The buyers at Braziliex, remain in complete control of the situation with the Bitcoin price at Braziliex moving back above the R$316,000 price area; now at the time of writing.

Buyers at Braziliex are pricing above the $316,000 price area and need to continue positive advances above the $318,600 price area in order to go in search of the historical top which is at the $320,000 price area, where once crossed the possibilities of advances above the $324,000 price area could arise and still extend above the $328,220 price area.

If buyers fail with these developments upwards of the R$316,000 and R$320,000 the sellers on Braziliex will take advantage and get into control of the situation where they could create the downside below the R$312,600 and R$306,320 price areas where buyers on Braziliex will have to try to bar sellers above the R$300,000 price area in order not to lose all the consolidations and developments made so far above the R$294,000.

Resistances: R$ 314,881 // R$ 317,199 // R$ 319,834 // R$ 323,100. 

Supports: R$ 310,815 // R$ 307,549 // R$ 304,177 // R$ 300,384.

https://www.tradingview.com/x/KwxgOksa

H4 chart:

Bitcoin price follows above the EMAs and above the Ichimoku Cloud.

It will be important for the Bitcoin price from its continued consolidations to positive developments above the 5 and 20 EMAs or even above the $52,500 price area.

Buyers remain firm and strong trying to defend the $53,600 price area and still trying the rounds of positive evolutions above $54,000.

It will be of extreme importance for buyers a continuity of positive developments above $54,500 for the next sessions, because if they get exhausted by attempts to break $54,360 and $54,500 the possibility of a return of sellers in control of the situation will appear again and this time disadvantages created could surpass below $53,000.

Follow the buyers in an attempt to get back with their positive developments above $54,320.

The chart in H4 will follow all week to have a parameter of the Bitcoin price evolution. Only a few adjustments will be made.

Resistances: U$ 54,497 // U$ 55,385 // U$ 56,180 // U$ 56,927.

Supports: u$ 53,563 // u$ 52,886 // u$ 51,998 // u$ 51,157.

https://www.tradingview.com/x/PivC8FmZ/

H1 Chart:

Bitcoin price follows above the EMAs and above the Ichimoku Cloud.

It will be important for the Bitcoin price to continue its bullish continuation above U$55,000 for the next few sessions.

Now at the time of writing, the Bitcoin price is tracking above the U$54,400 price area where it has just tested the U$54,530 price area.

Bitcoin's price looks poised to make its continued positive advances above the U$54,500 and U$54,800 price areas.

Once above the $55,220 price area the continuities of positive moves above $56,000 will occur.

Follow the buyers in an attempt to give the continuity of positive developments above the U$54,600 and U$54,800 to go in search of the U$55,000.

Resistances: U$ 54,734 // U$ 55,076 // U$ 55,418 // U$ 55,772.

Supports: $54,152 // $53,633 // $53,178 // $52,659.

https://www.tradingview.com/x/oZ3tB0iX/

Technical indicators: H1

RSI: The RSI on the H1 chart timeframe for BTC is at the 38 level and with a bearish bias.

https://www.tradingview.com/x/HjgRwcp7/

MACD: The MACD on BTC's chart time is at the positive 868 level with a bullish bias.

https://www.tradingview.com/x/fBTlve1Q/

OBV: The OBV on BTC's H1 chart time is at the 1.069 level and with a bullish bias.

https://www.tradingview.com/x/FfXnCiMe/

BTC dominance 61.64 %.

" React intelligently even when treated with ignorance. "

Lao-Tsé

Keep following my analysis through Tradingview as well:

https://br.tradingview.com/chart/BTCUSDT/uKjoqLDk/

Register at Braziliex and feel at home:

https://braziliex.com/?ref=87C5DFE2B009FA4E47917BD7639263A5

Follow my analysis on Twitter: https://twitter.com/BraziliexTrades?s=20

Follow my analysis on Twitter: https://twitter.com/CSM_Trader

Follow My Review on Instagram: https://instagram.com/braziliex

Follow My Review on Facebook: https://www.facebook.com/braziliex/

Follow my Review on Flipboard: https://flipboard.com/@CSMTRADER007

Follow my review on publish0x:

https://www.publish0x.com?a=nXe0RKLGbx

With the BRZX Token you can:

💰Sell for Bitcoin on Braziliex

💸 Keep in your account to get discounts on fees

Make your registration and earn BRZX Token:

 https://braziliex.com/?ref=87C5DFE2B009FA4E47917BD7639263A5

n º308